MARKET WATCH 11/1/11....M-E-L-T-D-O-W-N...FTSE MIB Is DOWN -1100 !!!!!

to put it simply...bond yields are the interest paid to the holder for buying bonds...the higher the yield, the more they pay...but the reason they rise is to offset the risk of holding them. a yield of 200% is so off the chart is not even funny.

Anybody remember that thread with a post from a supposed insider saying back in early August that FIVE eu countries (I'm guessing PIIGS) would go down in 90 days?

It's almost right on cue. Not that it's really all that surprising but still.

Thanks. No more dumb questions. I'll just watch the show...

OOH...look....the Germans are upset:

[link to business.financialpost.com]

What a shame!

Ok I'm pretty sure this will be theme of the day here at GLP so I will make a thread of my own too.

Where to begin?

DOW futures -228

DAX is down over 5%! -320

[link to www.google.com]

FTSE MIB down a stunning -1100 !!!

[link to www.google.com]

GREECE 1-year yield fell drastically after the crisis was 'fixed' and now are SOARING higher than they were before!!

1-Year approaching 200!! (194)

[link to www.bloomberg.com]

Greece 2 year @ 84:

[link to www.bloomberg.com]

But this isn't the news...no the news is now ITALY. The crisis is QUICKLY spreading there and then its GAME OVER:

Italy 2-year up over 8% today and rising...

[link to www.bloomberg.com]

(ITALY 2-YR BOND YIELD SPREAD VS GERMANY HITS NEW EURO LIFETIME HIGH ABOVE 500 BPS)

Italian 10 Year Bond Price Almost An 8 Handle

Stunned horror, even from the ECB which is not even pretending to be able to put a floor under Europe's fulcrum security - the Italian 10 year. Popcorn not optional. If this thing hits 8X, cue panic.

[link to www.zerohedge.com]

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Europe On The Verge Of A Political Crisis

And the hits just keep on coming, with the Greek government now just one vote away from total collapse

As a reminder 151 votes are needed to pass a vote. But that's not all:

Senior member of Italian opposition says party has asked president Giorgio Napolitano to form new government before G20 summit in Cannes

[link to www.zerohedge.com]

Don't know the validity of this, but here it is (note the timeline):

"I'll try to keep this short. A friend of 50 years called to inform me of a goverment action. A friend of his[40 years] came to town & told him a week before , [8-7-11 approx.] a person from goverment came to there area ,had them call a tri county meeting of all key police department personnel & said this, There are going to be 5 countries in Europe that are going to collapse in next 90 days, people will come hear expecting us to take care of them, we will be flooded with people [ shortening this] - not going to happen.THEY WERE TO 1st order all ammo that you can for your dept., Now, 2nd issue all riot gear to personnel now, 3rd buy all the food you can for your families now, because when this happens there's will only be 5 hours of food on store shelves.

this person is upset, did not believe any of this could happen in the USA, they were told this would be usa wide and to get ready for riots. I called back Friday, ask my friend where this occurred, would not tell exact city , but that It happened dallas texas tri counties! I'm taking this just as A HEADS UP! I'll keep my eyes & ears wide open for any
thing changing or just out of place. If anyone hears of any other location having similar notices , pass it on. bless you"

to put it simply...bond yields are the interest paid to the holder for buying bonds...the higher the yield, the more they pay...but the reason they rise is to offset the risk of holding them. a yield of 200% is so off the chart is not even funny.

GLP Dow M-E-L-T-D-O-W-N number 425.

LoL

Congrats on the Super Pin Martial!!! I hope everyone took us seriously last week when we told them the EU think would not work. Merkel said it herself when she suggested that war was a strong possibility.

Right now, batten down the hatches, makes sure you prep ducks are in a row & protect you financial assets. Have cash on hand and a cool head. If the riots start in your town, a cool head will be one of your best defensive weapons.

Don't you mean "THE LESS THEY PAY?"

I'm nervous. Will I be able to pull my check out of BOA and buy food on Friday?

Congrats on the Super Pin Martial!!! I hope everyone took us seriously last week when we told them the EU think would not work. Merkel said it herself when she suggested that war was a strong possibility.

Right now, batten down the hatches, makes sure you prep ducks are in a row & protect you financial assets. Have cash on hand and a cool head. If the riots start in your town, a cool head will be one of your best defensive weapons.

Thing is, I can't figure out if I was being boo'ed 'as' a commie, or if it was being signed off 'by' a commie.

Hell if I know what it's about.

I'm nervous. Will I be able to pull my check out of BOA and buy food on Friday?

You have BOA WOW

Don't know the validity of this, but here it is (note the timeline):

"I'll try to keep this short. A friend of 50 years called to inform me of a goverment action. A friend of his[40 years] came to town & told him a week before , [8-7-11 approx.] a person from goverment came to there area ,had them call a tri county meeting of all key police department personnel & said this, There are going to be 5 countries in Europe that are going to collapse in next 90 days, people will come hear expecting us to take care of them, we will be flooded with people [ shortening this] - not going to happen.THEY WERE TO 1st order all ammo that you can for your dept., Now, 2nd issue all riot gear to personnel now, 3rd buy all the food you can for your families now, because when this happens there's will only be 5 hours of food on store shelves.

this person is upset, did not believe any of this could happen in the USA, they were told this would be usa wide and to get ready for riots. I called back Friday, ask my friend where this occurred, would not tell exact city , but that It happened dallas texas tri counties! I'm taking this just as A HEADS UP! I'll keep my eyes & ears wide open for any
thing changing or just out of place. If anyone hears of any other location having similar notices , pass it on. bless you"

Most likely.

Checked my records and this is actually GLP Dow M-E-L-T-D-O-W-N number 427 not 425.

All because G-Pap hints at going FULL-ICELAND - good for him putting his nations interest above the bankers!

We're ALL ICELAND and the sooner the better!

I knwo, it has been a financially rough month. I plan to switch to local credit union after I get my next check. I have to wait until I have a new account to change my automatic deposits. Can't open a new account until I have money.

Seriously..anyone?